Indian Crypto Community Expects Adjustments In Crypto Regulations In 2023
- The Indian Union Budget 2023-24 will be introduced on February 1, 2023 by Finance Minister Nirmala Sitaraman.
- The crypto community eagerly awaits the budget presentation.
- The community expects major changes in crypto regulations, especially based on tax regimes.
The crypto community in India has been eagerly awaiting the Union Budget 2023-24 which is expected to be unveiled by Finance Minister Nirmala Sitaraman on February 1, 2023 in Lok Sabha. The expectation is based on the hope of changes in tax regimes or some other rules that may result in increasing demand for cryptocurrencies in India.
In particular, the current Union Budget is the fifth consecutive budget to be submitted under Nirmala Sitaraman. Supposedly, this would be the last Budget before the 2024 general elections.
Significantly, Dileep Seinberg, the founder of the decentralized payment network, MuffinPay, said that the crypto industry is eagerly awaiting the budget announcement:
Indian crypto investors are eagerly awaiting the finance minister’s budget announcement early next month. Tax adjustments or any new announcements will be closely watched by traders as they will shape crypto adoption in India.
It should be noted that 2022 had been an unlucky year for crypto markets, bitterly shocked by the
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